The worst word for an employee is “Layoff”. Layoff is very popular in todays world suffering from economic downturn. I'm not saying all, but most of the IT industries are taking the help of layoffs for cost cutting and to reduce the head counts. Looking at the current scenario, it is very hard to predict that who is next. It can be anyone because IT industry is the most badly hit industry during this global economic crunch.
But the matter of fact is, are the layoffs right? Does he deserve to get layoffs as incentives for the years of shear hard work and sacrifices. In my opinion, company should better find other ways then to layoff its employees. This is not the only way by which you can do cost cutting.
IT industry is the worst hit industry in today's time. Very few fresh aspirants are getting jobs in IT and most of them are searching some alternative for the time. The layoff from an IT firm can shatters anyone dream at this moment. So I suggest the industries should look out for any other alternative to counter this recession, rather than layoffs.